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MVELAPHANDA GROUP LIMITED - Results of general meeting of Mvela Group shareholders

Release Date: 02/10/2012 11:31
Code(s): MVG     PDF:  
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Results of general meeting of Mvela Group shareholders

Mvelaphanda Group Limited
Incorporated in the Republic of South Africa
Registration number: 1995/004153/06
Ordinary share code: MVG
ISIN code: ZAE000060737
(“Mvela Group” or “the Company”)



          RESULTS OF GENERAL MEETING OF MVELA GROUP SHAREHOLDERS


Defined terms used in this announcement shall have the meanings given to them in the circular
posted to Mvela Group shareholders on Monday, 3 September 2012 ("the Circular").

1. Introduction
Mvela Group shareholders are referred to the Circular relating to:
       the granting of shareholder approval for the Batho Bonke Disposal which constitutes a
       disposal by Mvela Group in terms of section 115(2)(b) of the Companies Act as well as a
       Category 1 transaction in terms of the Listings Requirements; and
       the granting of shareholder approval for the proposed change of name of Mvelaphanda
       Group Limited to New Bond Capital Limited.

2. Results of the general meeting
Mvela Group shareholders are advised that at the general meeting of shareholders held on
Tuesday, 2 October 2012, the requisite majority of Mvela Group shareholders passed all the
special resolutions and the ordinary resolution as set out in the notice of general meeting.


3. Outstanding conditions precedent
Mvela Group shareholders are reminded that the Bathos Bonke Disposal is still subject to the
fulfilment of the condition precedent that, to the extent required, the requisite contractual consents
must have been obtained from (i) Batho Bonke’s funders in terms of funding agreements to which
Batho Bonke is a party, for a certain number of Absa ordinary shares to be disposed of by Batho
Bonke; and (ii) the two Absa entities which are shareholders in Batho Bonke, namely Gotswelela
Proprietary Limited and the Trustees for the time being of the Absa HDSA Employees Trust in
terms of the shareholders agreement in respect of Batho Bonke, for a certain number of Absa
ordinary shares to be disposed of by Batho Bonke. Mvela Group shareholders will be advised on
the fulfilment of all the conditions precedent to the Batho Bonke Disposal in due course.

Melrose Arch

2 October 2012




Merchant bank and transaction sponsor             Legal adviser
Rand Merchant Bank, a division of FirstRand       Webber Wentzel
Bank Limited
Sponsor
PSG Capital

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